Guadalupe Company has determined its year-end inventory on a LIFO basis to be
$613,000. Information pertaining to that inventory is as follows:
Selling price
Costs to sell
$ 733,000
36,400
Normal profit margin86,500
Replacement cost 633,000
Calculate Guadalupe Company's reported inventory amount.
? $696,600
? $633,000
? $610,100
? $613,000